The UK government is preparing legislation that would bring cryptocurrencies under the country’s existing financial services laws by October 2027. The bill, expected to be introduced to Parliament next week, would place crypto firms under the oversight of the Financial Conduct Authority, extending regulatory requirements beyond current anti-money laundering supervision.
Treasury officials said the move is intended to give crypto businesses clearer legal expectations while strengthening consumer protections. Draft proposals circulated earlier this year would subject exchanges, dealers, and intermediaries to similar standards as traditional financial products such as stocks, reflecting a shift toward full market regulation rather than registration-only oversight.
The initiative aligns the UK more closely with regulatory developments in the United States and follows the FCA’s recent roadmap for crypto rules covering stablecoins, trading platforms, and decentralized finance. It also comes amid debate over Bank of England proposals on stablecoin restrictions, highlighting ongoing tension between innovation and financial stability priorities.
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